Judgment was given by M. J. van Haute in the Belgian Consular Court on Monday in the case brought by. the Hongkong Shanghai Bank against Mr. I.
der Stegen, proprietor of the Belgian Trading Ca., for alleged felonious procedure in his business relations with the bank. Defendant was acquitted.
Points from the judgment were:
Whereas the Belgian Trading Ca. have had business dealings with the bank for a number of years, the company had its euro rent account and securities deposited with them, and carried the usual business in all exchange contracts:
THE 1920-21 crisis.
Whereas the company was badly hit by the commercial crisis in 1920-1921 and found itself in am embarrassing financial condition, which fact the bank had not ignored and recognized during the proceedings Whereas during the years which followed the crisis the Belgian Trading Ca. suffered as many other firms did, and that each fresh misfortune attending its operations led to fresh embarrassments aggravated by the exactions of the increased! number of creditors:
Whereas: defendant had always been confident of the future, and, his business, according to the evidence of-the bank itself, had
Text read from the printed page and cleaned; old type leaves the occasional error.